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16946 Sherman Way, Van Nuys...

Mike Daldalyan Acquires Office Building In San Fernando Valley For $3.6M With Brokers Jay Martinez & Mike Criswell - Hudson Partners Inc. And Elizabeth Clark - Compass Commercial
SOLDOffice

Mike Daldalyan Acquires Office Building In San Fernando Valley For $3.6M With Brokers Jay Martinez & Mike Criswell - Hudson Partners Inc. And Elizabeth Clark - Compass Commercial

16946 Sherman Way, Van Nuys, CA 91406, USA

$3,600,000

$353/SF

Building Size

10,176 SF

Asset Type

Office

Closing

Aug 6, 2020

AI

An office property located at 16946 Sherman Way in San Fernando Valley has been sold for $3,600,000. The property spans a total area of 10,176 square feet, resulting in a price per square foot of $353. The sale took place on 08/06/2021.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $3,600,000
  • Address: 16946 Sherman Way
  • Market: San Fernando Valley
  • Square Footage: 10,176

Mike Daldalyan acquired the property from Neil Gitnick. The deal was facilitated by Jay Martinez and Mike Criswell from Hudson Partners Inc., along with Elizabeth Clark from Compass Commercial.

Players

Jay Martinez

Kidder Mathews

Broker

$145.3M

vol

41 deals

Broker
Douglas Elliman
Douglas EllimanBrokerage

Neil Gitnick

Seller

$5.5M

vol

2 deals

Seller

Van Nuys Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.41%

Cash-on-Cash

-1.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93